Stock-Buyback Tax Revival in Senate Bill Leaves Wall Street Unfazed
- Analysts say it’s a negative, but not detrimental to markets
- Senate aiming to pass bill with buyback levy in coming days
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A tax on stock buybacks is on the cusp of becoming law, potentially hampering a beloved tactic by companies and investors to boost share prices.
The new levy was unexpectedly added back into Senate Democrats’ tax and climate package late Thursday after last-minute negotiations to get on board holdout Senator Kyrsten Sinema. A vote on the bill is expected this weekend.